It is the 2nd largest negative balance of the historical series, which began in 2001; The Federal Government had a deficit of R $ 56.4 billion
The consolidated public sector – formed by Union, states, municipalities and state – registered primary deficit of R $ 66.6 billion In July, the 2nd largest negative balance in the historical series, which began in 2001. The deficit rose 212.7% over the same month of 2024, when it totaled R $ 21.3 billion.
(Central Bank) released the report “Tax statistics”This Friday (29.ago.2025). Here is the document (PDF – 260 kb).
The Central Bank discloses the data on the need for consolidated public sector financing, which measures how much it will be necessary to cover a deficit. When registering negative balance, the indicator shows more expenses than collection.
The central government (formed by federal government and central bank) recorded a deficit of R $ 56.4 billion in July. The states and municipalities had a negative balance of R $ 8.1 billion in the month. The state -owned company also had in the red, at $ 2.1 billion.
The consolidated public sector registered a deficit of R $ 27.3 billion in the accumulated from 12 months to July, which corresponds to 0.22% of GDP (Gross Domestic Product). Until June, there was an accumulated deficit of R $ 17.9 billion (0.15% of GDP).
Debt interest
The consolidated public sector spent R $ 109.0 billion in July on public debt interest. It had added R $ 80.1 billion in July 2024. The difference of R $ 28.9 billion is due to the following reasons, according to the BC:
- public indebtedness inventory growth;
- high of the Selic rate in the period.
In 12 months, debt interest expense totaled R $ 941.2 billion, which corresponds to 7.64% of GDP. It had been $ 869.8 billion in the 12 months until July 2024.
The nominal result – which includes spending on public debt – was a deficit of R $ 175.6 billion in July. In 12 months, the negative balance totaled R $ 968.5 billion, or 7.86% of GDP.
O primary result It shows if the government spent more than it raised, without considering interest on public debt. When there is primary surplus, it means that tax revenue, contributions and other sources was sufficient to cover current expenses and investments. The primary deficit indicates that the government had to debt even before paying interest.
O Nominal resultin turn, it encompasses the primary result plus public debt interest spending. More broadly reflects the situation of public finances, as it shows the total impact of fiscal policy on the country’s indebtedness. Thus, a government may have primary surplus, but still register nominal deficit if interest rates are very high.
PUBLIC DEBT
DBGG (Gross Government Gross Debt) reached 77.6% of GDP in July. Increased 0.9 percentage point compared to June. Read below what influenced the debt-PIB relationship in the month:
- interest spending (+0.8 percentage point);
- Net debt emissions (+0.4 percentage point);
- Currency devaluation effect (+0.1 percentage point);
- Nominal GDP variation (-0.4 percentage point).
In the year, DBGG was high of 1.1 percentage point because of the following effects:
- interest spending (+5.1 percentage points);
- Nominal GDP variation (-3.6 percentage points);
- Effect of currency appreciation (-0.4 percentage point);
According to the Central Bank, Brazil’s gross debt totaled R $ 9.6 trillion in July.
